POB unit 1

what is barter?

• Barter is a type of bar graph used in statistics.
• Barter is a form of online shopping.
• Barter is a system of exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money.
• Barter is a type of currency used in ancient civilizations.

advantages of barter?

• trading could take place without money.

• Barter limits the variety of goods and services available.
• barter enabled a person to get what he/she wanted and could not produce.

• Barter is inefficient and time-consuming.
• Barter has no advantages.

what is money?

• Money is a medium of exchange that is generally accepted.,

• Money is a fictional concept.
• Money is a form of energy.
• Money is a type of food.

limitations of barter?

• certain goods cannot be broken up into smaller units.

• double coincidence of wants.

• lack of variety in available goods
• difficult to save

what are the characteristics of money?

• durability, portability, divisibility, scarcity, and acceptability

• durability, portability, divisibility, uniformity, scarcity, and acceptability
• durability, portability, divisibility, uniformity, abundance, and acceptability
• durability, portability, divisibility, uniformity, unlimited supply, and acceptability

what is medium of exchange?

• A medium of exchange is a unit of measurement for goods and services
• A medium of exchange is a type of transportation used to move goods
• A medium of exchange is a form of communication between individuals
• A medium of exchange is a form of payment for goods and services.

what is unit of accounts?

• A type of bank account.
• Basic unit in which financial transactions are recorded and measured.
• Currency used in a specific country.
• A measure of weight or volume.

what is the bill of exchange?

• A bill of exchange is a written order from one party to another party to pay a specified amount of money to the first party at a future date.
• A bill of exchange is a written order from one party to another party to pay a specified amount of money to a second party at a future date.
• A bill of exchange is a written order from one party to another party to pay a specified amount of money to a third party at a future date.
• A bill of exchange is a written order from one party to another party to pay a specified amount of money to a fourth party at a future date.

what are a cheques?

• A cheque is a written order from an account holder, instructing their bank to pay a specific amount of money to a named recipient.
• A cheque is a digital currency.
• A cheque is a type of credit card.
• A cheque is a form of identification.

what is electronic transfer?

• The process of physically moving electronic devices from one location to another.
• The process of converting physical data into electronic format.
• The process of transmitting electronic signals through a wired connection.
• The process of transferring funds or data electronically from one account or device to another.